Safeway Buys Lahaina Cannery MallJune 8, 2012, 5:03 PM HST · Updated June 8, 5:04 PM 0 Comments
By Sonia Isotov
Property Development Centers (PDC), a wholly owned real estate subsidiary of Safeway Inc., acquired Lahaina Cannery Mall shopping center today.
“Safeway has served the Lahaina community from this location since 1987 and we are very excited about the opportunity to deepen our roots through the acquisition of Lahaina Cannery Mall,” said Dave Zylstra, the chief operating officer of PDC, in a written statement.
Wendell Brooks, CBRE, represented the buyer, Property Development Centers, and will be the exclusive leasing agent for Lahaina Cannery Mall shopping center.
Jon Gianulias, CORE Commercial represented the seller, Lahaina Cannery Mall, LLC, owner of the 15-acre, 130,599 square foot Lahaina Cannery Mall shopping center which consists of a Safeway grocery store, Long’s Drugs, and various other shops and restaurants was acquired by PDC.
“We are delighted to add this signature property to our portfolio and want to make it a special place for the local community,” said Zylstra.
A fourth in the Wailuku Maui Lani Shopping Center is under construction and will open spring of 2013.
PDC is a national shopping center development company based in Pleasanton, California. It has has 33 projects nationwide consisting of 3.5 million square feet including six current projects in Hawaii of 850,000 square feet.